HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) - Legend Holdings Corporation (“Legend Holdings” or the “Company”, Stock Code: 3396. HK) announces the unaudited condensed consolidated interim results of the Group for the six months ended 30 June 2024 (the “Reporting Period”). In the first half of 2024, adhering to high-quality development driven by technological innovation, Legend Holdings prioritized stability while pursuing progress, responded to changes in macro factors, strived to develop new quality productive forces, and the Company’s core competitiveness was steadily improved. During the Reporting Period, the Company recorded revenue of RMB233.4 billion, representing a 16% year-on-year increase, with net profit increasing to RMB2.805 billion. The net profit attributable to equity holders of the Company was RMB286 million, and this year-on-year decrease recorded was primarily due to the increasing complexity and uncertainty of global economy, which had impacts on profits contributed by diversified-industries operation segment as well as the investment business of industrial incubations and investments segment.During the Reporting Period, Legend Holdings continued to drive industrial innovation through sci-tech innovation, emphasizing new quality productive forces as a key focus for the enterprise’s high-quality development, expanding its presence in frontier industries such as artificial intelligence, biopharmaceuticals, advanced materials and new energy, while exploring emerging frontiers and achieving positive outcomes in building up modernized industrial system. The Company has been committed to increasing its investment in technology development and innovation, with accumulated R&D investments increasing 3.4% to RMB7.3 billion. Lenovo Group, a subsidiary of Legend Holdings, achieved milestone breakthroughs in strategic products, including the launch of the first AI PCs worldwide and several AI servers. Meanwhile, the Legend Holdings Family Group has stepped up developments in frontier industries such as advanced materials, innovative drugs, biomanufacturing, and commercial space. Legend Holdings has also made forward-looking investments, making early moves in new sectors such as quantum technology and life sciences, which are expected to become the growth drivers for new quality productive forces. During the Reporting Period, Legend Holdings has invested in nearly 40 technology projects, and to date, the Company has invested in a total of 120 national specialized and innovative “little giant” enterprises, maintaining an industry-leading position.Legend Holdings has always been committed to serving national strategic needs and actively promoting the high-quality development of the manufacturing industry chain. By advancing new industrialization and boosting China’s strategic strength in manufacturing, and digital development, Legend Holdings has promoted the intelligent transformation and upgrading of China’s manufacturing industry. Currently, 90% of China’s top 500 manufacturers, over 1,000 leading manufacturing enterprises, and more than 2,000 growth manufacturing enterprises have received support from the Legend Holdings Family Group. Meanwhile, funds under the management of Legend Holdings have invested over RMB20 billion in the manufacturing sector, promoting the listing of dozens of manufacturing enterprises and fostering about 20 niche-sector leaders in the industry. As the world’s leading AI full-stack product portfolio and solution service provider, Legend Holdings has intensified its efforts to expand its footprint in AI and promote AI applications and built a vibrant AI+ application ecosystem with cumulative investments in over 250 AI-related companies. Meanwhile, Legend Holdings has actively promoted the industrialization of digital sectors and digital transformation of various industries. This includes supporting the proactive construction of digital infrastructure, and building a nationwide integrated computing power network to advance the deep integration of the digital economy with the real economy.Legend Holdings has always insisted on integrating the green concept into its high-quality development and actively fulfilled its social responsibilities. Lenovo Group was the first domestic high-tech manufacturer to pass the Science Based Targets initiative (SBTi) net-zero target validation, and its MSCI ESG rating remains at AAA, the highest rating in this assessment. A number of green industrial projects newly laid out by Levima Advanced Materials were completed in the first half of the year, and multiple projects are scheduled to be completed and put into production in 2025. ZQET Group is expanding in the photovoltaic industry. It has invested in a 20GW N-type high-efficiency solar cell smart manufacturing project, with the first phase already in operation and its core products ranking among the top tier of the industry. Meanwhile, Legend Holdings focuses on systematic planning and long-term investment in public welfare areas such as “rural revitalization”, “innovative technology” and “promoting righteousness”, and has been keeping contributing Legend's value to the society.In the face of challenges and opportunities, Legend Holdings will continue to deepen the high-quality development led by scientific and technological innovation. While strengthening its industrial foundation and optimizing the resource allocation, the Company will expand its presence in frontier areas, cultivate emerging and future industries, further focus on new quality productive forces, and build its new core competitiveness. Copyright 2024 ACN Newswire via SeaPRwire.com.

香港, 2024年8月30日 - (亚太商讯 via SeaPRwire.com) — 据财华社报道，今日，联想控股公布了2024年中期业绩，实现收入2,334亿元（人民币，下同），同比增长16%；净利润增长至28.05亿元；归母净利润2.86亿元，同比有所下降，公司表示，主要由于全球经济形势的复杂性与不确定性持续攀升，令产业运营板块的贡献利润以及产业孵化与投资板块的投资业务受到了波及。整体来看，2024上半年外部环境变化带来的不利影响逐步增多，资本市场也呈现出较大波动：内地创业板指和科创50同步下跌约16%，恒生科技指数低位持续下跌6%，A股和港股的市场流通性呈现明显颓势，中国企业境内外上市数量亦持续收缩，数据显示，今年上半年该数字同比下降62%至82家。即使面对如此挑战，联控于报告期内依然推动了8家企业上市，占近一成。笔者分析，如此境况下，像联控这类大型企业受资本市场波动的影响也往往较大，逆风入市难以及时体现优质资产的显性价值，联控或许也在有意把控这一节奏，以更加从容地应对宏观环境的不确定性。虽然联控上半年归母净利同比有所下滑，但相较其2023年度业绩而言，可以看到明显改善，同时，公司上半年收入录得同比增长，这说明其各项业务依然处于积极推进和发展中，稳健的产业基础也为公司的可持续发展提供了坚实保障。复杂多变的外部环境也为国家推进新质生产力的发展提出了新的要求和挑战。2024年6月，国家发文表示，「新质生产力是创新起主导作用，具有高科技、高效能、高质量特征，符合新发展理念的先进生产力质态，必须继续做好创新这篇大文章，推动新质生产力加快发展。」联控持续响应这一号召，聚焦以科技创新推动产业创新，将发展新质生产力作为公司坚持高质量发展主线的重要着力点。具体来看，公司继续加强技术研发，研发投入累计增长3.4%至73亿元；且旗下联想集团率先推出了全球首款AI PC和多款AI服务器，也意味着标志性重大战略产品取得突破。联控在持续加强人工智能、生物医药、新材料、新能源等前沿布局的同时，还关注新领域的开辟，加快发展生物制造、商业航天等产业，提前开拓量子科技和生命科学等新赛道。据笔者了解，报告期内，联控投资科技项目近40个，而截至目前累计投出国家级专精特新「小巨人」企业120家，处于行业领先水平。以商业航天为例，联控旗下君联资本被投企业银河航天，作为中国领先的卫星互联网解决方案提供商和卫星制造商，为中国巨型低轨通信星座的快速部署提供了技术支撑。此外，联控旗下君联资本、联想之星、联想创投共同投资的图灵量子，持续探索量子计算与经典算力、人工智能的融合发展，协助孕育了新一批新质生产力。而在助推中国制造业智能化转型升级的进程中，联想控股也在持续推动制造业产业链的高质量发展。资料显示，联控体系已支持到90%的「中国制造业500强」企业、1,000多家头部制造型企业以及2,000多家成长型制造企业，旗下基金在制造业总投资超过200亿元，累计推动数十家制造企业上市，打造了约20家制造业单项冠军。同时，根据Gartner最新榜单，联想集团连续三年位列全球前10，是亚太地区唯一上榜的高科技制造企业。而作为全球领先的全栈式AI产品组合与方案服务供应商，联想也在进一步加大人工智能领域的布局和应用推广，累计投资AI企业超250家，构建AI+应用生态圈。笔者认为，联控正渐渐走出调整转型的承压期，公司主动调整业务节奏、谨慎发力稳中求进，在尖端领域的超前布局亦于这一时期获得了稳定持续的积累。凭借其稳健的产业基础和高质量发展的潜能释放，相信公司已逐步回到健康可持续的增长曲线之中。 Copyright 2024 亚太商讯 via SeaPRwire.com.

香港, 2024年8月30日 - (亚太商讯 via SeaPRwire.com) — 联想控股股份有限公司（「联想控股」或「公司」；3396.HK）于今日公布截至2024年6月30日止6个月（「报告期」）未经审计简明综合中期业绩。2024上半年，联想控股坚持科技创新引领高质量发展，稳中求进，主动应对宏观因素变化，着力发展新质生产力，企业核心竞争力稳步提升。报告期内，公司实现收入2,334亿元（人民币，下同），同比增长16%；净利润增长至28.05亿元；归属于本公司权益持有人净利润2.86亿元，录得同比下降主要由于全球经济形势的复杂性与不确定性持续攀升，产业运营板块贡献利润以及产业孵化与投资板块的投资业务受到波及。报告期内，联想控股持续通过科技创新推动产业创新，聚焦新质生产力作为企业高质量发展的重要着力点，深化人工智能、生物医药、新材料、新能源等前沿领域布局，同时关注新领域的开辟，在构建现代化产业体系上取得良好成效。公司继续加强技术研发，研发投入累计增长3.4%至73亿元；旗下联想集团率先推出全球首款AI PC和多款AI服务器，标志性重大战略产品取得突破。与此同时，联控体系加快发展前沿新材料、创新药、生物制造、商业航天等产业，提前布局开拓量子科技和生命科学等新赛道，打造新质生产力增长极。报告期内，公司投资科技项目近40个，而截至目前，已累计投出国家级专精特新「小巨人」企业120家，处于行业领先水平。立足服务国家战略需求，联想控股积极推动制造业产业链高质量发展，围绕新型工业化和加快建设制造强国、数字中国等战略任务，助推中国制造业智能化转型升级。目前，联控体系已支持到90%的「中国制造业500强」企业、1,000多家头部制造型企业以及2,000多家成长型制造企业，同时旗下基金在制造业总投资超过200亿元，累计推动数十家制造企业上市，打造了约20家制造业单项冠军。联想作为全球领先的全栈式AI产品组合与方案服务供应商，进一步加大在人工智能领域的布局和应用推广，构建AI+应用生态圈，累计投资AI企业超过250家。公司还积极推进数字产业化、产业数字化，助力超前建设数字基础设施，加快形成全国一体化算力体系，促进数字经济和实体经济深度融合。联想控股始终坚持将绿色理念融入到企业高质量发展之中，积极履行企业社会责任。联想集团是中国首家通过科学碳目标倡议组织（SBTi）净零目标验证的高科技制造企业，其明晟MSCI ESG评级保持在AAA级，为该评估的最高等级。联泓新科新布局的多个绿色产业项目均在上半年建成，并有多个项目计划于2025年建成投产。正奇光能布局光伏产业，投建20GW高效N型电池片项目，目前第一期已投产，核心产品跻身行业第一梯队。同时，联想控股重点在「乡村振兴」、「科技创新」、「弘扬正气」等公益领域系统规划并长期投入，持续贡献「联想」价值。面对挑战与机遇，联想控股将持续深化科技创新引领高质量发展，在持续夯实产业基础、优化资源配置的同时，加强前沿领域布局，培育新兴和未来产业，进一步聚焦新质生产力，打造企业新的核心竞争力。 Copyright 2024 亚太商讯 via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) Beijing Tong Ren Tang Chinese Medicine Company Limited (“Tong Ren Tang Chinese Medicine” or the “Company”, Stock code: 3613.HK) is pleased to announce the unaudited results of the Company and its subsidiaries (collectively referred to as the “Group”) for the six months ended 30 June 2024 (the “Period”).In the first half of 2024, facing challenges such as the sustained strength of the Hong Kong dollar, changing consumption patterns, and a sluggish retail industry in Hong Kong, China and Macau, China regions, the Group responded proactively and made simultaneous efforts from multiple dimensions of products, marketing, research and development, and production. This ensured the stable operation of its business and the continued consolidation of its market-leading position. During the Period, the Group achieved revenue of HK$ 664.5 million, net profit of HK$ 240.3 million, and profit attributable to owners of HK$ 219.8 million, with earnings per share of HK$ 0.26.By market segment, during the Period, the Group further enriched its product matrix and optimized its retail market layout. The Hong Kong, China market achieved revenue of HK$333.8 million, with 30 retail terminals, a net increase of 3 terminals compared with the previous year. In the markets outside Mainland China (excluding Hong Kong, China,), the Group accelerated its brand market expansion and steadily promoted its internationalization, achieving revenue of HK$214.4 million. In addition, the Group achieved revenue of HK$116.3 million in Mainland China market.Sufficient momentum from technological innovation, new breakthroughs in production and R&DThe development of science and technology has provided new technical support and growth strategies for the advancement of traditional Chinese medicine (“TCM”). During the Period, the Group leveraged technological innovation as a driving force, empowering intelligent upgrades in production and enhancing product excellence and innovation. This has helped accumulate new momentum for future growth and supported the inheritance and innovation of TCM.Product quality is the lifeline of an enterprise. At the production level, the Group’s production and R&D base in Tai Po consistently upholds stringent standards and rigorous procedural controls. The Group has successfully secured Hong Kong, China’s GMP and ISO22000 certifications, with its product quality has been recognized. Additionally, to further enhance the cost competitiveness of its products, the Group has intensified efforts in revamping and upgrading its production layout. By increasing mechanization and automation, the Gorup has effectively reduced production costs and boosted productivity, thereby ensuring consistent product availability in the market.In terms of products, the Group intensifies its R&D efforts, actively diversifying its product matrix and expediting the translation of scientific research outcomes. During the Period, the Group completed the production of a number of new registered proprietary Chinese medicines and health food products, including Guizhi Fuling Wan , Lingzhi Turmeric Compound Blood-supplementing and Nerve-calming Capsules , Wolfberry Coffee Mix , Red Ginseng Coffee Mix and Sporoderm-broken Ganoderma Lucidum Spores Chocolate . The Group also plans to commence the production of Qiyao Pills ) and Jinshui Liujun Jian Granules. In April this year, the Group’s self-developed product, Danggui Buxue Keli, were awarded the Certificate of Registration of Proprietary Chinese Medicines (HKC-18604) issued by the Chinese Medicine Council of Hong Kong, China, further enriching the Group’s product portfolio. In May this year, the Group’s invention patent (Patent Number: ZL 2023 1 1206874.8) for “a freckle-removing and whitening product along with its preparation method and uses was successfully granted by China National Intellectual Property Administration and has been applied to Ageing-Defying Collection of the Tong Ren Tang’s Chinese anti-aging NMN series.In addition to preserving and advancing TCM services, the Group is also expanding into new health concept areas. During the Period, the Group entered into a Memorandum of Understanding with Deer Industry New Zealand to promote innovative health-functional deer food products, assisting both parties in collaborative development, registration and marketing efforts. The Group will give full play to strengths in both its proprietary brand and Chinese medicine, combined with the resource advantages provided by New Zealand, the origin of deer velvet, to accelerate the R&D of New Zealand deer products and the deployment of the industrial chain configuration, and continue to expand into new health domains.Moving forward, the Group will continue to strengthen its cooperation with internationally renowned institutions and research organizations such as the University of Hong Kong, Hong Kong Baptist University and the University of California, to conduct research on the safety and mechanism of key products such as Tong Ren Tang’s Angong Niuhuang Wan , Ganoderma Lucidum-related products and Tong Ren Niu Huang Qing Xin Wan, in order to further expand its scientific research results, and to provide a reliable scientific basis for the entry of its products into the mainstream markets overseas in the future. The Group adheres to the highest standards of superior, pure and genuine traditional Chinese medicinal materials, and brings together the essence of the intangible cultural heritage culture and exquisite craftsmanship, as well as strict and meticulous production to fully embody the Group’s motto: “Never cut corners on labour and quality, no matter how complex the process or how costly the materials”. This philosophy not only enhances the health value delivered to customers but also provides the Group with a stronger growth momentum.Orderly market expansion and diversified marketing to strengthen brand effectIn terms of market expansion, on the one hand, the Group has continuously introduced new products to consolidate and expand its market share. During the Period, the Group launched new products, including the Tong Ren Tang’s Chinese anti-aging NMN series – the Youth Prime Collection and the Age-Defying Collection, the Guizhi Fuling Wan , and Wood Lok Medicated Oil , broadening its product range. At the same time, the Group further expanded its retail presence in Hong Kong, China by opening three new retail outlets in North Point, Mong Kok, and West Kowloon. The North Point and West Kowloon stores also offer Chinese medical consultation and treatments to reach a wider customer base.In terms of product marketing, the Group has intensified its marketing efforts to increase product recognition. Specifically targeting the “major variety” products, such as Tong Ren Tang Angong Niuhuang Wan and Sporoderm-broken Ganoderma Lucidum Spores Powder Capsule and Tong Ren Niu Huang Qing Xin Wan, the Group promoted and advertised the brand and products through an omni-channel approach, integrating special festivals and themes to create consumer hotspots. Moreover, the Group has also advanced the development of both online and offline channels, continuously expanding its sales channels to meet the demands of post-pandemic era business models.In terms of brand promotion, the Group capitalized on its participation in major events, significantly enhancing its promotional efforts and accelerating the brand market expansion. During the Period, serving as a critical portal for Beijing Tong Ren Tang’s international development, the Group participated in the 2024 Wuzhen Health Conference, showcasing its flagship products and a variety of new products. In implementing the “Belt and Road” initiative, the Group leads time-honored brands venture into the world and integrates into the international arena. By adopting the “bring in” and “go global” strategy, the Group is promoting the rich and profound TCM culture, further disseminates Chinese health wisdom globally to benefit more people.Additionally, the Group has enhanced its brand image and influence through public welfare activities. The Group has actively encouraged its overseas retail outlets that offer Chinese medical consultations and treatments to provide charity Chinese medicine clinic services. This initiative embodies the Group’s philosophy of “introducing medicine through treatments” and supports its brand development. In Hong Kong, China, the Group has fully supported and participated in public welfare activities, demonstrating to society and the public the Group’s corporate spirit of “Nurturing kindness and virtue, preserving tranquility and wellness ”. Through its services and products, the Group is dedicated to deeply embedding the Tong Ren Tang brand, products and Chinese medical consultation and treatments services into the community, spreading the culture of Tong Ren Tang while encouraging a healthy lifestyle among community residents.Future ProspectsWith the ongoing economic and social development, an intensifying aging population trend, and the increasing health awareness among residents, the pharmaceutical consumption market is expected to expand continuously. TCM, as a crucial sector of the pharmaceutical industry, continues to hold significant potential for growth in the global market.In the future, the Group will continue to strengthen R&D efforts and expand its proprietary product matrix, including products such as Ganoderma Lucidum series and anti-aging series, to create diversified growth engines and drive the realization of high-quality developmental transformation within the Group. At the same time, the Group will focus on business development by enhancing its new retail layout, accelerating the introduction of new products, continuously advancing the registration of Tong Ren Tang’s key products in Vietnam, innovating business models, and reinforcing its core competitive advantages. By leveraging the development of new quality productive forces as its engine, the Group strives to achieve sustained growth in its business scale. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 30, 2024 - (ACN Newswire via SeaPRwire.com) - Liuzhou, a key industrial hub in Southwest China, has long been a pioneer in China's industrial history. From manufacturing Guangxi's first automobile and aircraft before the founding of the People's Republic of China to becoming the second-largest industrial city in South China during the reform era, Liuzhou has consistently thrived with the times.Today, as Chinese automotive companies expand globally, Liuzhou's businesses are once again at the forefront, with Wuling Motors (0305.HK) serving as a prominent example.On August 22, Wuling Motors announced its interim results for 2024, demonstrating strong performance across its three main business segments. The company is actively enhancing its high-quality production capabilities and exploring growth opportunities abroad, achieving impressive results in its international ventures.In the first half of 2024, Wuling Motors made significant strides in its overseas expansion: exporting auto parts to Vietnam, golf carts to Egypt, and new energy logistics vehicles to South Korea, as well as establishing a research and development center in Hong Kong...Wuling Motors is sending a clear message to the world: The company's future is bright, with limitless potential.(I) Moderate Growth in Auto Parts and Other Industrial Services RevenueAccording to Wuling Motors' 2024 interim report, the company achieved a revenue of CNY 3.946 billion in the first half of this year, with a gross profit of CNY 426 million. Net profit surged 72.3% to CNY 21.125 million compared to the same period last year.Breaking down the segments, the auto parts and other industrial services business recorded a revenue of CNY 2.698 billion in the first half of the year, up 6.1% year-on-year. During this period, Wuling Motors focused on consolidating its existing market while aggressively expanding into new territories. The company aimed to break into growth markets dominated by giants like Great Wall Motors, Chery, and BYD. Sales to newly acquired customers surged to CNY 1.042 billion, accounting for 38.6% of the divisional revenue.Wuling's Jingmen base in Hubei, dedicated to supplying Great Wall Motors, rapidly scaled up its production, generating CNY 334 million in revenue in the first half of the year. It successfully delivered frame assemblies for two Great Wall models, breaking the record for the highest first-month delivery of a new product. Additionally, Wuling's domestic ultra-high-strength steel tube hydroforming production line - a first in China - successfully commenced mass production, supplying 13 hydroformed products to premium models from brands like Great Wall and BYD.The auto parts and other industrial services segment posted an operating profit of CNY 75.883 million in the first half of the year, up 44.3% year-on-year.In the automotive power systems segment, Wuling Motors achieved CNY 902 million in revenue. While strengthening its traditional power technology upgrades, Wuling Motors accelerated its layout of new energy power integration development, speeding up its new energy business initiatives. In the first half of 2024, Wuling accelerated the establishment of a comprehensive product matrix for hybrid and battery electric powertrains and core components, advancing production capacity and rolling out new products and technologies. By promoting its products, Wuling Motors has focused on building lines and improving processes for motors, motor controllers, rotors, and stators, securing new energy market collaborations with JAC Motors and Changan Kaicene.The commercial vehicle segment posted CNY 331 million in revenue in the first half of the year, primarily seeking breakthroughs in high-value-added sub-sectors.Wuling Motors achieved a gross profit margin of 10.8% in the first half of 2024, a significant increase of 270 basis points from 8.1% in the same period in 2023. This impressive growth was largely driven by declining prices for raw materials, such as steel. Additionally, the ramp-up of higher-margin products further contributed to the substantial improvement in the company's profitability.(II) Striking the Main Chord of Overseas ExpansionIn the 1960s and 1970s, Liuzhou's tractors were exported to Vietnam and Rwanda in Africa, and in 1990, its microcars were shipped to Thailand. Liuzhou-made vehicles have consistently ventured overseas.Today, Liuzhou's automotive industry faces another historic opportunity for overseas expansion.As domestic market demand becomes saturated, expanding abroad has become essential for Chinese companies, and overseas markets are emerging as the new "blue ocean."For example, Guangxi's exports were robust in the first half of the year. According to customs statistics, Guangxi's import and export trade reached CNY 345.28 billion in the first half of 2024, up 12% year-on-year. Exports alone hit CNY 191.8 billion, a record high, rising 28.5%. Exports of major categories like mechanical and electrical products and labor-intensive products were CNY 109.18 billion and CNY 37.3 billion, respectively, growing by 26.8% and 48.5% and accounting for 56.9% and 19.4% of Guangxi's total exports.In the automotive market, "intense competition" and "overseas expansion" are the current hot topics. According to the China Association of Automobile Manufacturers (CAAM), in July 2024, China exported 469,000 vehicles, up 19.6% year-on-year. From January to July 2024, China's auto exports reached 3.262 million units, up 28.8%. Among these, exports of battery electric vehicles totaled 554,000 units, and plug-in hybrid vehicles reached 154,000 units, representing a 180% increase year-on-year.Specifically in Liuzhou, more than 90,000 vehicles were exported through Liuzhou Customs in the first half, up 23.8% year-on-year; of these, over 10,000 were new energy vehicles (NEVs), a surge of more than 30-fold.Wuling Motors has seized this trend, charting a course for global success.Take the Wuling golf cart as an example. With its strong handling, lightweight design, comfortable ride, and powerful performance, the Wuling golf cart has been highly favored by overseas customers. Since its launch, it has been sold in countries across Southeast Asia, Central Asia, Europe, and America.Earlier this year, Wuling Industrial, a subsidiary of Wuling Motors, showcased its new multi-purpose golf/community vehicles at the 71st PGA Merchandise Show in Orlando, USA, drawing significant attention. On April 15, the 135th Canton Fair kicked off in Guangzhou, where Wuling Industrial's golf carts attracted buyers from 205 countries and regions worldwide. On May 22, Wuling Industrial shipped about 200 golf carts to Egypt, expecting to complete delivery in the third quarter.Wuling Motors' joint venture, Wuling New Energy, also broke new ground with its G050 left-hand drive battery electric logistics vehicle. In March 2024, the company secured its first order of 300 units with South Korea's Daechang Corp, marking a breakthrough in the Korean market.Currently, Wuling's sightseeing vehicles, golf carts, and other products are exported to countries such as Vietnam, Singapore, Thailand, the USA, and Australia. Its new energy logistics vehicles have also penetrated traditional automotive powerhouses or regions such as the USA, Japan, and Europe, laying a solid foundation for expanding into the international market.This achievement is due to Wuling Motors' strategic planning.In recent years, Wuling Motors has accelerated its overseas expansion, with subsidiaries in India and Indonesia continuing to strengthen their presence. These efforts, focused on promoting the localization and launch of new models with key clients, have proven highly effective, helping Wuling penetrate new customer bases and meet international standards.On the product side, Wuling Motors has further enriched its product lineup, with more auto parts poised to enter global markets. In a major breakthrough, Wuling's self-developed rear drive axle assembly and drive system assembly for new energy passenger vehicles successfully entered the overseas market in the first half of this year. This achievement marks a departure from the traditional three-section axle housing structure, instead adopting a hydraulic expansion integral axle housing technology, which has been well-received by customers. On the channel side, Wuling is leveraging Hong Kong as an export conduit for its new energy business, boosting overseas sales for the group and its joint ventures.On the research and development front, Wuling Motors has established an innovation center in Hong Kong and signed memoranda of understanding (MOUs) with Hong Kong Polytechnic University (PolyU) and the Chinese University of Hong Kong (CUHK) to focus on NEV technology, jointly promoting the conversion and application of scientific research results.(III) Driving Global Growth Through High-Quality ProductionIn global competition, technology reigns supreme. Wuling Motors has been a pioneer in the NEV sector, steadfastly pursuing the development of NEVs. With a goal of deriving more than 50% of its business from NEV operations, Wuling is laying a solid foundation to become a front-runner in the new energy vehicle era as it ventures into overseas markets.In the auto parts business, Wuling Motors continues to align with the "passenger-focused" and "electrification" upgrades of its customers' products, continuously developing passenger vehicle products while actively supporting new energy vehicle models for major customers.Currently, Wuling Motors has successfully developed and optimized a range of products, including new energy electric rear axles, motors, motor controllers, range extenders, and hybrid systems. This year, the production of core components such as electric axles and hybrid engines has seen steady growth.After surpassing the milestone of producing one million units of micro electric axles, Wuling's coaxial electric drive axle became the first to achieve commercialization in China. It has been adopted by brands such as Changan Kaicene, Ruichi, and JAC Motors. Wuling Motors also secured orders from leading companies like Chery and Geely for electric axles used in mainstream NEV commercial vehicles. At Wuling's Jingmen base, which supplies auto parts to Great Wall Motors, business has flourished, with over 50% of its products sold in the first half of 2024 being NEV parts, generating CNY 333 million in revenue.In automotive power systems, Wuling Motors has made remarkable progress in developing and mass-producing high-efficiency engines and new energy power systems. Their strategy seamlessly integrates traditional power technology upgrades with new energy power innovations, resulting in a robust product lineup. In the first half of 2024, Wuling Motors focused on enhancing production lines and processes for motors, motor controllers, and rotors and stators. The H-platform ultra-high-efficiency engine has been successfully commercialized, securing projects with NEV clients like JAC, Changan, and Skyworth. Additionally, Wuling's casting sales reached 515,000 units, up 26.2% compared to the same period in 2023.In the commercial vehicle segment, Wuling focuses on specialized modification markets such as cold chain vehicles, sanitation vehicles, and medical vehicles. Their specialty products, including refrigerated trucks, sanitation trucks, and fire trucks, have been delivered to regions like Shandong, Zhejiang, Hunan, and Beijing. Leveraging its customization capabilities, Wuling has partnered with PepsiCo to develop a "mobile new retail" model, delivering over 100 Wuling vending trucks to PepsiCo and accelerating the expansion of mobile commerce.Wuling's joint venture, Wuling New Energy, is actively upgrading its brand and market position. They launched the long-range Golden Storage Mid-size Logistics Vehicle to quickly capture market share, achieving monthly sales exceeding 1,000 units in the first three months after launch. Additionally, Wuling New Energy is aggressively expanding into international markets, increasing exports to countries such as the USA, Japan, and South Korea. In the first half of 2024, Wuling New Energy sold approximately 7,900 NEVs, a 68.1% increase compared to the same period in 2023.It is evident that Wuling Motors' strategic direction is becoming increasingly clear.With a comprehensive business layout and a full range of products, Wuling has created synergies across its industrial chain, positioning itself as Guangxi's most comprehensive leading automotive group in the supply chain. With unparalleled control over product quality, cost, scale, and customer relations, Wuling has built a formidable competitive advantage.As the NEV era rapidly approaches, Wuling Motors is fortifying its dominant businesses, focusing on high-tech, competitive, and high-end flagship auto parts, expanding markets for high-value specialized modified vehicles, and advancing its NEV key parts and vehicle business.With these foundations, Wuling is boldly venturing overseas, aiming for growth through globalization and efficiency in management, poised for even higher-quality development in the new era. Copyright 2024 ACN Newswire via SeaPRwire.com.